L’Oreal recognised as one of world’s most ethical companies

By Katie Nichol

- Last updated on GMT

Related tags: Business ethics

Cosmetics company L’Oreal has been named one of the world’s most ethical companies for 2010 by research-based international think tank, the Ethisphere Institute.

Since 2007, Ethisphere’s ‘World’s Most Ethical Companies’ list has recognised businesses that ‘demonstrate real and sustained ethical leadership within their industries’.

Competition is strong, and applications from companies wishing to be considered for the 2010 list came from 100 countries across 36 industries.

Selection Process

A semi-finalist’s list was drawn up based on applications submitted by candidates and Ethisphere information gathered throughout the year.

Semi-finalists then responded to questionnaires about their ethics and compliance programmes, governance and corporate responsibility. Additional, independent research was carried out by Ethisphere’s staff, and an Ethics Quotient (EQ) for each company was calculated.

Companies were measured against seven categories including Corporate Citizenship and Responsibility; Corporate Governance; Innovation that Contributes to the Public Well Being, and Industry leadership.

Those with the highest EQ in their respective industries were added to the list.

L’Oreal as ethics pioneer

According to L’Oreal, it was one of the first companies in France to establish a Code of Business Ethics in 2000, and reinforced its commitment to encouraging and implementing ethical practices across the company by appointing a director of ethics in 2007.

Being named one of the most ethical companies in the world reaffirms L’Oreal’s commitment to ethical standards, which are an integral part of the company’s day-to-day business practices.

“At L’Oreal, we consider that ethics continues where rules end and that we should always ask ourselves not ‘can we do it’ but ‘should we do it’”, ​Emmanuel Lulin, Group Director of Ethics at L’Oreal told CosmeticsDesign-Europe.com.

“Our values are present in all aspects of our activities. The most visible examples are of course our strong Sustainable Development and Diversity policies but they are also integrated into less visible aspects such as our Purchasing Department’s responsible sourcing policy and our high standards with regards product quality and safety,” ​he added.

Other companies from the cosmetics and personal care industry that made the list include German consumer products company Henkel, and Japanese cosmetics player Kao.

Related topics: Market Trends

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